Jasper County Democrat, Volume 14, Number 34, Rensselaer, Jasper County, 19 August 1911 — JASPER COUNTY PLUTOCRATS [ARTICLE]

JASPER COUNTY PLUTOCRATS

Who the Holders of Bank Stocks in the Comity Are STOCK ASSESSEDAT7OCENTS Par Value That Earns 15 Per Cent Dividends and Commands a Premium of Nearly 50 Per Cent. The stock of the various banks of Jasper county is all assessed at 70 per cent of its face or par value, which is said to be on an equality with other counties in the state, and we presume it is. But according to the sworn statements of the bankers its earning capacity and the premium at which the stock is held justifies a higher assessment. All property in Indiana is supposed to be assessed for taxation at its true cash value, but it isn’t by any means, except money on hand or on deposit in bank. First mortgage notes are assessed at about 90 per cent; live stock at about half value, etc., and real estate (in our own county) at 40 per cent. It is not right for the man who has a thousand dollars ifi bank to be assessed at 100 cents on the dollar, when his neighbor who has a like sum of money invests it in land before March first and gets off at almost twothirds less. While actual money is better in an emergency than real estate, bank stock or anybody’s promise to pay, yet there ought not to be such a vast difference in their assessed value. The intent of our tax law seems all right, but its application is all wrong. A few years ago the bank stock of the Jasper county banks was fixed at about 95 per cent cent by the board of review, but an appeal was taken to the state board and it was there cut down to 70 per cent. Since then the board has been fixing it at 70 per cent. The following information concerning Jasper county banks is taken from the assessment sheets in the auditor’s office, and is of general interest:

STATE BANK. Capital $30,000. Surplus March 1, $15,000, undivided profits March 1, $3,051.35; dividends paid past year 8 per cent; deposits March 1, $177,782.67. Stock par value SIOO per share, is held by the following persons, all of Rensselaer unless otherwise noted: Shares Delos Thompson 67 James H. Chapman 67 John Eger 67 B. F. Fendig 12 S. P. Thompson heirs 12 Granville Moody . 11 Granville Moody, Jr 1 Lucius Strong . . . . .11 C. W. Hanley 6 Wm. Washburn 6 Charles G. Spitler 6 C. C. Warner • • • 6 C. M. Sands 2 E. D. Rhoades 4 John J. Lawler, Chicago 12 Jesse E. Wilson, Hammond .... 6 T. H. Robinson, Medaryville .... 4 . Total ................ 300 TRUST & SAVINGS BANK. Capital $25,000; surplus March I,’ $10,000; undivided profits March 1, $323.96; ’par value of shares SIOO, actual cash value $l4O. Dividends paid past year 8 per cent; deposits March 1,- $123,428.85. Stock is held by the following persons of Rensselaer unless otherwise noted: Charles G. Spitler 10 Judson J. Hunt 52% James N. Leatherman 10 John M. Wasson 15 E. L. Hollingsworth 65 L. H. Hamilton ...10 Edward P. Honan 10 George E. Murray 5 Edward C. English 5 Charles C. * Warner ...... ~ 10 John W. Tilton 5 Henry Grow 5 Ed J. Randle ... . 5 W. Leroy Meyer 5 Daniel S. Makeever ......,.. •>' . 5 Helen Wasson Hunt 5 Charles H. Mills ......V* z ... .22% Reed McCoy, McCoysburg 5 Total 250 FIRST NATIONAL BANK. Capital $60,000; surplus March 1, $15,000; undivided profits March 1, $4,801.13; dividends paid past

year 10 per cent; stock par value SIOO per share and actual value given at the same figure; deposits March 1, >245,990. The stock is held by the following persons, all of Rensselaer: John M. Wasson . ~.. . . 100 Georgq E. Murray 20 E. P. Honan .. 10 Daniel S. Makeever .......... 20 Ed J. Randle 20 James N. Leatherman 10 Harry R. Kurrie . . 30 A. F. K. Parkinson 60 Bessie Moody .-...• 20 John J. Lawler (Chicago)..... 40 E. L. Hollingsworth 270

Total 600 STATE BANK OF REMINGTON. Capital >25,000; surplus 7 March I, >3,000; undivided profits March 1; >3,743.21; dividends paid last year, 8 per cent; par value of stock >IOO per share, actual cash value >115; deposits March 1, >231,614.83 Stock owned by following persons, all of Remington unless otherwise noted: James H; Gilbert ...22 J. H. Biddle 22 S. G. Hand •••• •• !3 Chris Hensler 30 D. W. Biddle ...15 Elias Julian .......... 10 Emil Besser .. . ... .... ••••• •• 20 Charles V. May 10 John R. Wilson » Frank E. Fisher ...,. ’ 5 W. L. Gumm ....... ••••• ••• • • 5 Emma Janssen .... ........ ••• 5 C. H> Kinsell ~.. .... .• • •... -10 Peter Gelb -10 F. L. Lough ................. 3 W. I. McCullough (Fowler)... .10 James M. Hogan (F0w1er)..... 10 Will Hogan (Fowler) 10 Lemuel Shipman (Fowler) 10 I. N. Atkinson (Fowler) 10 Frank J. Babcock (Goodland). . 5 James Sheetz (Lafayette) 10 Total • - 250 BANK OF WHEATFIELD. Capital stock, >13,000; undivided profits March 1, >484.84; dividends paid last year 15 per cent; deposits >90,376.59; par value of stock >IOO per share, actual value >125; stock owned by following persons: H. W. Marble (Wheatfield) .37 John Pinter (Wheatfield) .10 B. M. Clark (Wheatfield) 5 E. L. Hollingsworth (Rensselaer) 5 John M. Wasson (Rensselaer). .10 D. S. Makeever (Rensselaer)... 15 Ed Randle (Rensselaer) 17 Ruth Salisbury (Crown Point).. 5 L. A. Salisbury (Crown Point). . 5 Martha Marble (Crown Point).. 16 Kate M. Ott (Crown Point).... 5 Total ...130